Forestry Sector likely to see incentives in Budget 2017
In recent months, two major forestry concessionaires after many years, have either defaulted or reduced operations here resulting in devastating effects on the sector it is hoped that government would intervene and alleviate the burden of employees of these companies.
The forestry sector could be in for several incentives in Budget 2017 aimed at making it more competitive. This is according to Natural Resources Minister, Raphael Trotman.
Minister Trotman who hosted this week’s post cabinet media briefing was cautious in his statement said he did not want to pre-empt the Finance’s Minister’s presentation come November 28, however, the incentives to stimulate activities within the sector in the form of fuel and taxes.
Acknowledging the 15 percent lull in the forestry sector, the Natural Resources Minister pointed out that cabinet is looking at various options aimed at cushioning possible effects.
However, he has noted that the role traditionally of the extractive sector is to boost up others and not to be dependent on Government for assistance.